Demesne Announces Closing Of Fourth And Final Tranche Of Private Placement Financing And Additional Corporate Developments

- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES -

/EIN News/ -- Vancouver, BC, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Demesne Resources Ltd. (CSE:DEME) (OTCQB:DEMRF) (FSE:RK9) (“Demesne” or the “Company”) is pleased to announce that it has completed the fourth and final tranche (the “Fourth Tranche”) of its previously announced non-brokered private placement financing (the “Offering”). Pursuant to the Fourth Tranche, the Company issued 1,740,884 common shares of the Company (“Common Shares”), at a price of $0.25 per Common Share for gross proceeds of approximately $435,221.

The Company received gross proceeds of approximately $2,010,622 under the oversubscribed Offering across all tranches.

In connection with the Fourth Tranche, the Company paid finder’s fees to eligible finders consisting of $11,200 in cash and 44,800 Common Share purchase warrants (the “Finder’s Warrants”). Each Finder’s Warrant is exercisable to acquire one Common Share of capital of the Company at an exercise price of $0.25 per Common Share for a period of 12-months.

The Company will use the net proceeds from the Offering to fund certain payments pursuant to an option agreement in connection with the IMA Mine Project, certain payments pursuant to an option agreement in connection with the Star Project, work program related expenses, marketing & corporate development, and for general working capital purposes. All securities issued in connection with the Fourth Tranche are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ADDITIONAL CORPORATE DEVELOPMENTS

The Company also announces, in accordance with CSE policies, that it has entered into a marketing agency agreement (the “Marketing Agreement”) with an arm’s length firm, Global One Media Limited (“Global One”) to provide, among other things, social media management, marketing and distribution services to the Company. The Marketing Agreement has an initial term of six months that began on November 1, 2024, and the Company will pay Global One a monthly retainer fee of US$3,700, excluding any spending on advertisements. Global One Media does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.

The Company has also entered into an advertising agreement (the “Advertising Agreement”) with Gold Standard Media, LLC ("GSM") to provide, among other things, landing pages, digital marketing, email marketing, and influencer marketing. The Advertising Agreement has a term of six months that will begin on January 27, 2025, and the Company will pay GSM a total US$400,000 and has granted 850,000 stock options. Either party has the right to terminate this to Advertising Agreement at any time.

ABOUT DEMESNE RESOURCES LTD.

Demesne Resources Ltd. is a British Columbia based company involved in the acquisition and exploration of magnetite mineral properties. The Company's Star Project consists of five contiguous mineral titles covering an area of approximately 4,615.75 hectares located in the Skeena Mining Division, British Columbia, Canada. The Company has entered into an option agreement pursuant to which it is entitled to earn an undivided 100% interest in the Star Project. Demesne has also entered into an option agreement, pursuant to which it can acquire a 100% interest (subject to a 2% royalty) in and to the IMA Mine Project, a past producing underground tungsten mine situated on 22 patented claims located in East Central, Idaho, United States.

Social media links:
LinkedIn: https://www.linkedin.com/company/demesneresources/
X: https://x.com/demesneresource
Facebook: https://www.facebook.com/DemesneResources
Instagram: https://www.instagram.com/demesneresources/
YouTube: https://www.youtube.com/@demesneresources

ON BEHALF OF THE BOARD OF DIRECTORS:

Murray Nye
CEO

1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada

For further information, please contact:

Murray Nye, CEO
Email: ir@demesneresources.com
Phone: +1 (416) 300-7398
CSE:DEME
OTCQB:DEMRF
FSE:RK9

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.

This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements in this news release include, but are not limited to, statements respecting the use of proceeds of the Offering. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.